Elon just created 4,400 millionaires in a single day.
400 of them are now worth over $100 million.
These aren't VCs. They're SpaceX employees, and the list includes welders, technicians, and cafeteria staff, because for two decades the company paid every level of the workforce in stock instead of higher salaries.
Juan Hernandez immigrated from Mexico and took a $28 an hour contractor welding job in 2015. He says he didn't even know what SpaceX was. The company gave him a $10,000 equity grant and let him buy more shares through payroll deductions. That stake is now worth $880,000.
Trevor Hise's parents wanted him to take a stable job at General Electric. He picked SpaceX instead, stayed 12 years, and accumulated over 100,000 shares. At the $135 listing price that's $13.5 million. He's 37 and semiretired. His words: "The magnitude of this has been ridiculous."
The most telling detail came before the listing. Over 100 employees quietly banded together and negotiated a group wealth management deal covering up to $5 billion, because none of them had ever needed a wealth manager before.
Software IPOs have minted millionaires for 30 years. This is the first one where the money went to the factory floor.
@239undefined@sarvielle Not sure what the calorie threshold is or if it varies person to person as it likely does but it’s called facultative thermogenesis or adaptive thermogenesis
@sarvielle I was quite strongly against my own argument a while back and was humbled when I did some further reading on it. It doesn’t make sense initially but it’s true, look it up yourself or simply press the grock button on this post and it’ll confirm it also.
@sarvielle It doesn’t address one important phenomenon however:
Some people’s bodies, when they consume higher calories, trigger an increase to their metabolism rate thus not gaining any weight. Some people can be in a “surplus” but in reality their body adapts and burns it anyway
@JBMason But to be fair it’s partly due this overthinking that is contributing to decline of suits and ties as a whole. I’d argue err on the side of more dressy then less when not sure